AgResource Midday Commentary; Wheat Rallies on Short Covering Amid Fund Shorts into Month End; Corn Scored 2 Month High; Soybeans fall on Record US Crop Potential

AgResource Farm Marketing Advice for Monday: 1/ No new advice. December corn would have to reach $6.95-7.05 and March soybeans at $1.75 or above for new cash sales advice. Midday CBOT futures are mixed with soybean futures sagging while the grains rally. Corn futures have scored fresh 2-month highs from the lingering bullish fundamental impact…

AgResource Midday Commentary: CBOT rallies on Expectation of Bullish Pro Farmer Tour Yields; US Central Bank to be at War Against Inflation for Longer

AgResource Farm Marketing Advice for Friday: 1/ No new advice. Midday CBOT futures are higher with grain/soybeans pushing upwards in an expectation that Pro Farmer will come out later today with a low yield estimate following their 4-day tour that concluded yesterday. Rumors have Pro Farmer releasing a US corn yield of 172 BPA and…

AgResource Mid-Day Commentary; CBOT Sinks Following Chaotic US Weekly Export Sales Report; Macro Economics in Play on Friday; Wetter Midday GFS Forecast

AgResource Farm Marketing Advice for Thursday: 1/ No new advice. It has been morning of anxiety/uncertainty with USDA/FAS changing websites to release their weekly export sales report. The initial weekly FAS sales data was delayed, then incorrect data was released, and then corrected at 9:30 AM with supposed right totals. CBOT grain traders are still…

AgResource Mid-Day Commentary; CBOT Retreats After Early Fund Buying;Corn/Soy Futures Fall from Chart Resistance; Black Sea/ Brazilian Corn Not Following

CBOT futures opened sharply higher following the announcement that China had booked over 500,000 MTs of US new crop soybeans amid the left-over bullishness from technical/chart based considerations. December corn and November soybeans tested key resistance at $6.75 and $14.85 before retreating. Futures are well off their highs at midday. Traders are awaiting the Jackson…

AgResource Mid-Day Commentary: CBOT Rallies Sharply Following Day One Pro Farmer Estimates; Macro Markets Lend Support; US Forecast Largely Favorable

AgResource Farm Marketing Advice for Tuesday: 1/ Corn Producers: Price the last of the 2021 crop that was set on a September corn basis contract at $1.20 over at $6.50 basis September corn futures. This would produce a net cash price of $7.70. ** FILLED **                  2/ Soybean Producers: Sell another 20% of 2022 soybean…